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Press Release

AI in Fintech Market Expected to Reach 7,305.6 Million USD by 2022

[122 Pages Report] The AI in Fintech market size is expected to grow from USD 959.3 Million in 2016 to USD 7,305.6 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 40.4%.

This press release was orginally distributed by SBWire

Northbrook, IL -- (SBWIRE) -- 12/06/2018 -- According to a new market research report "AI in Fintech Market by Component (Solution, Service), Application Area (Virtual Assistant, Business Analytics & Reporting, Customer Behavioral Analytics), Deployment Mode (Cloud, On-Premises), and Region - Global forecast to 2022", published by MarketsandMarkets™, the AI in Fintech market size is expected to grow from USD 1,337.7 Million in 2017 to USD 7,305.6 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 40.4%.

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The growing internet penetration and availability of spatial data are some of the major driving factors of the AI in Fintech market. Furthermore, the increasing AI-enabled technological solutions in the capital market and rising mobile workforce are expected to provide opportunities for the growth of the AI in Fintech market.

Browse and in-depth TOC on "AI in Fintech Market"
63 - Tables
36 - Figures
122 - Pages

Software tools solution is expected to be the largest contributor in the global AI in Fintech market during the forecast period

A large amount of non-trivial data is generated in the financial sector, and due to the unstructured data with compliance issues, financial companies are struggling to manage data. These issues need to be analyzed and monitored in order to plan further actions. Data quality and data governance solutions enable organizations to extract a better picture of their compliance related issues as well as data management. Data discovery is expected to be crucial in the years to come.

The managed service is expected to show a significant growth rate during the forecast period

The demand for services is growing with the evolution of the AI in Fintech market. Specifically, managed services are expected to have a fast growth rate during the forecast period. The solutions offered by vendors need to be integrated to avail the industry best practices of the AI in Fintech solutions. The market for managed services is expected to be growing faster owing to the need for deployment of AI in Fintech solutions either on-cloud or on-premises.

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North America is expected to have the largest market share during the forecast period

North America is the most competitive and rapidly developing AI technology market for the finance industry in the world. North America, among all the regions, has shown the maximum adoption of AI in Fintech solutions, due to its early implementation in a majority of application areas. The US and Canada are projected to extensively implement AI in Fintech solutions; North America is expected to have the highest market share.

The AI in Fintech market report encompasses the competitive landscape, which presents the positioning of the 25 key AI in Fintech vendors, based on their product offerings and business strategies. Some of the major vendors are Microsoft (Washington, US), Google (California, US), Salesforce.com (California, US), IBM (New York, US), Intel (California, US), Amazon Web Services (Washington, US), Inbenta Technologies (California, US), IPsoft (New York, US), Nuance Communications (Massachusetts, US), and ComplyAdvantage.com (New York, US).

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Email: sales@marketsandmarkets.com

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